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Last refreshed: 08/06/2026 15:40 · 65 articles added
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Economy

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Economy

Kia Slovakia launches exclusive global production of EV2 electric vehicle

Kia Slovakia has begun production of the EV2 electric vehicle at its plant in Teplička nad Váhom, near the northern city of Žilina. The facility will serve as the exclusive global manufacturing hub for the new electric model, with all EV2 vehicles produced solely at the Slovak plant. The EV2 represents the second fully electric vehicle manufactured by Kia at its Slovak facility, strengthening the plant's strategic position in the company's global electric vehicle production network.

SMEAktualityTASR/Teraz
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Economy

Rising Fuel Prices Do Not Affect Public Transport Fares in Banská Bystrica Region

Public transport ticket prices in the Banská Bystrica region remain unchanged despite rising fuel costs, according to regional transport officials. The Banská Bystrica Self-Governing Region (BBSK), which oversees public transportation in central Slovakia, maintains that fares for the Integrated Transport System are set through official regional decisions and any changes to ticket prices must go through a formal approval process. The region's policy indicates that transport fares are not automatically adjusted based on fluctuating fuel prices, providing fare stability for passengers even as energy costs rise.

TASR/Teraz
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Economy

Foreign retail chains stop selling Slovak cage eggs this year

Foreign retail chains operating in Slovakia have discontinued selling Slovak cage eggs this year, marking a significant shift in the country's egg market. The development comes as Easter approaches, a period when demand for chicken eggs traditionally increases across Slovakia. The move by international retailers reflects growing consumer preferences for higher welfare standards in egg production, potentially pressuring local producers to transition away from conventional cage systems toward free-range or barn alternatives.

TASR/Teraz
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Economy

Trnava Region Continues Sale of Unused Property Assets

The Trnava regional government has announced another round of competitive bidding for the sale of unused property assets. The self-governing region, which covers western Slovakia including cities like Trnava, Piešťany, and Senica, is continuing its efforts to divest properties that are no longer needed for public administration purposes. Regional authorities regularly conduct such asset sales as part of efficient property management and to generate revenue for regional budgets.

TASR/Teraz
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Economy

Rising Energy Costs Drive Up Bus Transportation Prices in Western Slovakia's Záhorie Region

Bus transportation costs in Slovakia's Záhorie region are increasing as a direct result of rising energy prices, according to transport operators. The Záhorie region, located in western Slovakia along the borders with Austria and the Czech Republic, has seen its public transportation sector affected by the broader energy crisis impacting Europe. Despite the price increases in bus services, passenger numbers in regional transportation have remained relatively stable so far, suggesting that demand for public transport has not yet been significantly deterred by the higher costs.

TASR/Teraz
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Economy

Social Insurance Agency to Increase Pensions for Over 155,000 Working Retirees

Slovakia's Social Insurance Agency will increase pensions for 155,822 working retirees. The Social Insurance Agency, which administers Slovakia's public pension system, announced the pension increases that will benefit those who continue working while receiving retirement benefits. Working pensioners in Slovakia are entitled to periodic pension adjustments based on their continued contributions to the social security system, with these increases designed to reflect additional earnings and contributions made while in retirement.

SME
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Economy

Tax Rules Clarify Which Rental Property Expenses Can Be Deducted

Slovak tax authorities have clarified which expenses related to rental properties can be included in tax returns for 2025. While furniture such as chairs can be deducted as business expenses, built-in appliances like ovens cannot be claimed. The guidance comes as property owners prepare their annual tax declarations, with specific rules distinguishing between movable items that qualify for deductions and fixed installations that do not. The clarification helps landlords understand which rental-related costs they can legitimately claim when filing their tax returns.

SME
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Economy

Škoda Auto Exits Chinese Market, Shifts Focus to India and Southeast Asia

Škoda Auto has ended vehicle sales in China and is reshaping its global market strategy due to declining interest in the Chinese market. The Czech automaker, which is owned by Volkswagen Group and has significant operations in Slovakia, is withdrawing from what was once a key market for the brand. The company is redirecting its expansion efforts toward India and Southeast Asia, where it sees greater growth potential. This strategic shift reflects broader challenges facing European automakers in China, where local manufacturers have gained market share and consumer preferences have evolved toward electric vehicles and domestic brands.

Aktuality
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Economy

Slovak Parents Lose Tax Benefits as Government Ends Child Allowances at Age 18

Slovak families are counting financial losses after the government eliminated tax benefits for 18-year-old children as part of broader fiscal consolidation measures. Parents argue their adult children remain financially dependent despite reaching legal adulthood, creating additional burden on already struggling households. The change has sparked criticism that the government's austerity policies disproportionately impact the poorest families, who relied on these tax bonuses to support children still in education or unable to achieve financial independence immediately upon turning 18.

Aktuality
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Economy

Slovak Taxpayers Can Now Split Tax Donations Between Parents and Non-Profits

Slovak taxpayers will be able to combine their charitable tax donations, directing 2% of their income tax to their parents while also donating to non-profit organizations, up to a total of 6% of their tax liability. The new arrangement allows citizens to split their tax-deductible contributions between supporting family members and charitable causes, expanding the existing system that previously required choosing between different recipient categories. Slovakia's tax donation system allows individuals to designate a portion of their income tax payments to approved recipients rather than having the full amount go to the state budget.

Aktuality
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Economy

Slovak bakery chain Pierre Baguette to build €20 million production facility

Pierre Baguette, a bakery company based in Sládkovičovo, will construct a new €20 million production facility to manufacture an expanded range of products including wraps, paninis, and Italian pinsa bread. The investment is expected to increase the company's annual revenues by approximately €20 million. The Slovak producer of filled baguettes and other baked goods has tripled its revenues since the COVID-19 pandemic and ranks among the country's fastest-growing domestic food companies. The new facility represents the latest expansion phase for Pierre Baguette as it diversifies beyond its traditional baguette production into new Italian-style bread products.

Dennik N
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Economy

Major Slovak Construction Company Stavizol Enters Bankruptcy with Minimal Assets

A court in Slovakia ordered the construction company Stavizol – Pozemné stavby into bankruptcy following a petition from cement producer Danucem. The Žilina-based construction firm, which until recently generated annual revenues exceeding 12 million euros and employed 40 people, appears to have transferred most of its assets before the bankruptcy proceedings began. Prior to the court ruling, the company changed its name, headquarters location, and ownership structure. The firm continued selling assets even after bankruptcy proceedings had started, though these transactions can still be legally challenged. The case highlights potential asset-stripping practices, where companies transfer valuable property before formal insolvency proceedings to avoid creditor claims.

Dennik N
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Economy

U.S. Oil Inventories Rise for Fifth Consecutive Week

American oil reserves increased for the fifth straight week, defying market expectations. Analysts had predicted the inventories would decline by 1.3 million barrels during the latest reporting period. The continued buildup in U.S. oil stocks suggests either stronger domestic production, weaker demand, or both factors contributing to the accumulation of crude oil reserves in the world's largest oil consumer.

SME
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Economy

Gold Prices Suffer Worst Drop Since 1983 Despite Earlier Growth Expectations

Gold prices experienced their steepest decline in decades, marking the worst fall since 1983. The precious metal's unexpected plunge surprised financial markets, as analysts had previously predicted continued growth in gold values. The dramatic price drop represents a significant reversal for an asset that many investors had viewed as a safe haven amid global economic uncertainties.

SME
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Economy

Over 5,400 People Lost 21 Million Euros as Non-Bank Financial Company Head and Bankruptcy Trustee Declared Innocent

A Slovak court has delivered its fifth consecutive acquittal in a major financial fraud case where over 5,400 people lost a combined 21 million euros. The latest ruling declared both the head of a non-bank financial company and a bankruptcy trustee innocent of charges related to the massive financial losses. The case represents one of Slovakia's significant consumer finance scandals, affecting thousands of ordinary citizens who invested their savings with the non-banking institution. Non-bank financial companies in Slovakia operate outside traditional banking regulations while offering investment and lending services, making them popular but riskier alternatives for consumers seeking higher returns. The repeated acquittals suggest either insufficient evidence to secure convictions or potential weaknesses in the prosecution's case, leaving victims without legal recourse for recovering their lost funds.

Korzár
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Economy

Court Acquits Non-Bank Financial Institution Chief and Bankruptcy Trustee in 21 Million Euro Fraud Case

A Slovak court has acquitted the head of a non-banking financial institution and a bankruptcy trustee in a major fraud case that resulted in losses of 21 million euros affecting over 5,400 people. The ruling represents the fifth consecutive court decision in what appears to be an ongoing series of related legal proceedings. The case involved significant financial losses for thousands of Slovak citizens who had dealings with the non-banking financial institution, though the court found insufficient evidence to convict the two key defendants of criminal wrongdoing.

Korzár
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Economy

Penta Financial Group Cuts Communication with Two Journalists Over Professionalism Concerns

Penta, one of Slovakia's largest financial and investment groups, has suspended communication with two journalists, citing concerns about their lack of professionalism. The financial conglomerate, which has extensive business interests across Central Europe and has been involved in various political controversies in Slovakia, made the decision to halt direct contact with the reporters. Despite the communication boycott, both journalists have announced they will continue to provide Penta with opportunities to respond and comment in their future articles about the company.

Aktuality
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Economy

Volvo Plant Near Košice Nears Production as Test Operations Set to Begin This Year

The new Volvo automotive plant near Košice is entering its final preparation phase, with the Swedish automaker confirming that test operations will begin around mid-2024. Construction work is currently being completed at the sprawling 300,000-square-meter facility, while intensive installation of production technology is underway. The plant represents a major industrial investment in Slovakia's second-largest city and eastern Slovakia's economic hub, bringing significant manufacturing capacity to the region. Once fully operational, the facility will mark Volvo's expansion into Central Europe's automotive manufacturing sector.

Košice Dnes
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Economy

Wizz Air becomes key carrier for Bratislava airport with 25 regular routes

Wizz Air has established itself as one of the principal airlines serving Bratislava's M. R. Štefánik Airport, currently operating 25 regular flight routes from the Slovak capital. The Hungarian low-cost carrier plans to expand its presence further by adding six additional routes to its Bratislava operations. This development represents a significant boost for Slovakia's main international airport, which serves as the primary gateway for air travel to and from the country. The expansion of Wizz Air's operations enhances connectivity between Bratislava and various European destinations, potentially improving both business and leisure travel options for Slovak passengers.

SME
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Economy

Gold Price Surges Past $4,550 Per Ounce as Investors React to Iran Ceasefire Negotiations

Gold prices climbed above $4,550 per ounce as investors responded to news of ongoing ceasefire negotiations involving Iran. The precious metal's surge reflects typical market behavior during geopolitical developments, as traders often view gold as a safe-haven asset during periods of international uncertainty. The price movement demonstrates how global diplomatic developments, particularly those involving Middle Eastern tensions, continue to influence commodity markets and investor sentiment.

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